$BTC Update H4. After the CPI news was announced, BTC increased to 59,650 very beautifully. But then plugging it down creates a lot of bad trends. Good news supports the general financial market, but BTC is still under heavy pressure from short selling by German CP and fomo by small investors.
👉 D1 closes the inverted Hammer, and also creates a reversal candlestick cluster
👉 H4 created 2 peaks, not enough force to really break through the support zone at 58,800-59,300.
👉 H4 is about to retest the support zone and the trendline of H4 at 56400 has a quite positive reaction.
The worst case scenario is that it actually breaks the trendline and crosses the 55300 area, then we have to prepare for BTC to go down very deeply.
👉 In contrast to small investors who are still being fooled by news about short selling, ETFs and whales have continuously bought spot $BTC and $ETH continuously in the past few days as the market tried to drown the price.
What do you think about BTC's trend based on updates that Trading Insight posts like this...